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“Successful companies work closely with their management teams and employees … ”

As the economy begins to rebound, companies are looking at how they can maintain a competitive advantage. They want to make sure they can hang onto the best and brightest employees once hiring starts ramping up again. Many successful companies will rely on their strong employment brand — their corporate culture and values system — to help keep employees engaged in good times and bad. Is your company prepared?

In January, the business consulting firm BestCompaniesAZ and Arizona Business Magazine launched a new award program called Arizona’s Most Admired Companies. Unlike other award programs that reward based on growth or revenue metrics, Most Admired Companies will showcase businesses that demonstrate core values. The program will honor Arizona-based companies across the state based on employee, customer and community opinions. Public, private, government and nonprofit organizations with 50 or more employees are eligible to participate. Winners will be announced at an awards reception this fall, with their profiles published in Arizona Business and online at www.BestCompaniesAZ.com.

In selecting Arizona’s Most Admired Companies, four critical areas will be evaluated:

Workplace culture:

Successful companies work closely with their management teams and employees to establish a clear set of corporate values and a shared vision. By doing so, they create a positive corporate culture that drives the company’s direction.

Leadership excellence:

The quality of a leadership team can make or break a company. Dynamic leaders will embrace, support and promote desired corporate values, vision and culture. They also will connect effectively with their employees to ensure that all members of the team are properly trained, motivated and empowered to carry out their jobs. Research has established the positive effect a strong leadership team has on increased productivity, higher rates of employee satisfaction and better overall financial performance.

Corporate and social responsibility:

Many companies are actively involved in the community and help give back in both time and money. Getting involved with charitable organizations is a great way to share a company’s success and introduce a company to the community as one that truly cares.

Customer service:

It all starts with how a company treats its employees, and this carries through to what customers think about an organization. The Most Admired Companies program will look at what customers are saying about a company’s employees and service levels.

Here are some ways to learn more about and become involved with Arizona’s Most Admired Companies program:

Self nominate your company or a company you most admire.

Discuss with your employees why you are participating in this state program and involve them in the application process.

Celebrate your success by providing employees with feedback when the results come in. Whether you land on the list or not, you will capture essential information that warrants celebrating. Just by participating in this program, you are making a statement to your employees that you care and are committed to creating a most admired company and culture.

The marketing and branding of your company is not a start-and-stop process. Granted, tough times create tighter budgets, but that’s when successful companies find unique opportunities to keep the momentum going — such as being recognized as one of Arizona’s Most Admired Companies. Use this time to think and plan strategically. The best companies will weather the storm and continue to promote their employees, company and product brands, keeping them top of mind and ahead of the competition. When the economy turns around, you’ll be well positioned to attract the best and brightest customers and employees.